Heavy Buying: Raamdeo Agrawal-Backed Bajaj Group Hits All-Time High Price with 1.5 Times Volume Surge on BSE – FIIs and DIIs Increase Stake!
The company’s shares have delivered an impressive return of around 50 per cent to its shareholders in the past 1 year.
Shares of this Small-Cap Bajaj Group company have hit an all-time high today, drawing attention as Bajaj Housing Finance, another group entity, made its stellar debut in the IPO market.
Maharashtra Scooters Ltd (MSL), another key Bajaj Group company, is also in the spotlight. MSL operates as both a manufacturing firm and an unregistered core investment company, specializing in the production of dies, jigs, fixtures, and die-casting components, primarily serving the automobile industry.
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At the start of the day's trading session, shares of Maharashtra Scooters Ltd opened at Rs 10581 per share, compared to the previous day's closing figure of Rs 10522.10 per share on the BSE. Currently, the shares are at Rs 11350 per share. The stock has rallied 8.5 per cent today and hit an all-time high price of Rs 11,428 as well as the 52-week high, reflecting strong demand in the market. The company's current market capitalization stands at Rs 12,971 crore. The shares have delivered an impressive return of around 50 per cent in the past 1 year.
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As per the Quarterly Results, in the Q1 FY25, Maharashtra Scooters Ltd recorded a revenue of Rs 7.72 crore compared to Rs 5.26 crore. The operating profit stood at Rs 1.98 crore. The net profit stood at Rs 8.26 crore compared to a profit of Rs 0.48 crore.
According to the shareholding pattern of the company, the promoters hold a significant 51 per cent stake. Public investors own 39.08 per cent of the shares, while Foreign Institutional Investors (FIIs) hold 4.54 per cent and Domestic Institutional Investors (DIIs) own 5.36 per cent. Both the FIIs and DIIs have increased their stake, also veteran investor Raamdeo Agrawal owns a 1.60 per cent stake in the company.
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Investors must keep this small-cap company on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.